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Jim Cramer: The Danger of Worshipping Tesla

Jun 09, 2014 | 12:20 PM EDT

Here's what it says to me: If you own the stock of Tesla understand that, like it or not, there's another player that represents an alternative that could cut into sales. It might not. It might never amount to a hill of beans, but it is out there for all to see -- and I backed the stock for ages.

Sure, there is a YouTube clip of me at first dismissing the stock, which was right. It did next to nothing for those first three years. But when it took off I was all in Tesla. Now, 150 points later, down $50 from its high, call me worried, not from the BMW challenge, but by the worship of a stock.

These are pieces of paper, and no more. Never let them get to you to the point of dismissing all that is out there, including a parking lot full of competition observed by an early Tesla backer.

Action Alerts PLUS, which Cramer co-manages as a charitable trust, had no positions in stocks mentioned.

Editor's Note: This article was originally published at 11:37 a.m. EDT on Real Money on June 9.